Koenig & Bauer AG has confirmed that, on the basis of its preliminary and as yet unaudited figures, its Group earnings before interest and taxes (EBIT) for 2022 have exceeded its own forecast as well as market expectations.
Despite a challenging environment characterised by supply-chain constraints and an associated increase in material and energy costs, the EBIT of €22m exceeded the company’s own forecast of €15-20m. It was additionally spurred by the accelerated implementation of the P24x efficiency improvement programme. At €1,186m, Group revenue reached the upper end of the projected range of €1,160 – 1,190m. The operating EBIT margin therefore came to 2%. In the previous year, revenue had amounted to €1,115.8m, while EBIT, which had been favourably influenced by the adjustment to the P24x restructuring provisions of around €23m, reached €28.5m.
Andreas Pleßke, CEO, stated, “It became clear from the third quarter in particular that we were able to make the right strategy adjustments very quickly in response to the changed market environment. In addition, we intensified our already successful P24x efficiency enhancement programme. The massive rise in some raw material and energy prices also led to higher material costs in 2022, which it was only possible to pass on in part and with a delayed effect by increasing prices.”
In the fourth quarter of 2022 in particular, Koenig & Bauer achieved a significant increase over the same period in the previous year, with revenue coming to €380m (previous year: €328.4m) and EBIT to €25m (previous year: €11.8m).
